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Interval fund

A closed-end fund that must offer periodic repurchases under Rule 23c-3.

Why it matters

The required repurchase offer creates a legal liquidity floor that other wrappers do not have.

What this means on AltHarbor

Interval funds are the cleanest example of structure changing the investor's exit rights.

Product-page application

Use this when reviewing interval policy, repurchase floor, offer cadence as mechanic fields. Product surfaces apply the same vocabulary to real fund facts.

Source checklist
  • Confirm the stated interval repurchase offer percentage.
  • Check pricing date, notice period, and oversubscription treatment.
  • Separate legal minimum liquidity from actual client timing.
Tooltip / inline use

Confirm the stated interval repurchase offer percentage.

Apply this concept

Definition to source check to tool and learning path.

ToolWrapper Matrix

Use before applying strategy or performance claims so the wrapper does not get confused with the underlying asset class.

LiveLearning pathMarket foundations

Explain what semi-liquid alternatives are and where they fit.

Intro / 38 min

Reference graph packet

One concept entry now routes to the full Learn system.

3Modules
1Tools
1Wrappers
0Examples
0Outputs
ToolWrapper Matrix

Use before applying strategy or performance claims so the wrapper does not get confused with the underlying asset class.

LiveWrapperInterval fund

Mandatory repurchase offers every 3, 6, or 12 months, commonly quarterly.

IntervalModuleFund Structures: How Semi-Liquid Alternative Funds Are Built

The legal wrapper determines liquidity rights, tax treatment, oversight, and investor protections before a manager ever picks an asset.

StructuresModuleLiquidity and Redemptions: What Semi-Liquid Actually Means

How repurchase programs, tender offers, caps, gates, queues, and redemption waves shape the real exit experience.

LiquidityConceptTender offer fund

A closed-end structure that may conduct board-approved tender offers.

Shared module: StructuresConceptNon-traded BDC

A business development company that is registered but not exchange listed.

Shared module: Structures

Related modules

StructuresFund Structures: How Semi-Liquid Alternative Funds Are BuiltLiquidityLiquidity and Redemptions: What Semi-Liquid Actually MeansRegulationRegulation: The Rules Governing Semi-Liquid Alternative Funds

Related tools

LiveWrapper Matrix

Related wrappers

IntervalInterval fund

Advisor outputs

Leave with language and diligence prompts.

Client-safe summary

Interval fund describes the legal and operational wrapper, not just the assets inside the fund.

What to check

Confirm liquidity rights, tax form, access channel, fee layers, source documents, and whether the board or manager can change the program.

Advisor phrasing

Start with the wrapper because it controls how the client enters, exits, receives tax reporting, and experiences costs.

Concept graph

Neighboring terms to inspect next.

WrapperTender offer fundShared module: Structures / Shared module: LiquidityWrapperNon-traded BDCShared module: Structures / Shared module: LiquidityWrapperNon-traded REITShared module: Structures / Shared module: LiquidityFilingSource documentShared module: Regulation / Shared tool: Wrapper MatrixLiquidityProrationShared module: Liquidity / Same wrapper row: IntervalWrapperSemi-liquid alternativesShared module: Structures / Shared module: Liquidity